Byju's says FY22 standalone revenue rises to Rs.3,569 crore, EBITDA loss drops marginally
Founder and group CEO, Byju Raveendran, reflecting on a challenging year that included nine acquisitions, noted the invaluable lessons learned
Byju's parent Think and Learn Private Limited (TLPL), has released its financial audit for FY22. The edutech company has reported FY22 standalone revenue up at Rs.3,569 crore, with a marginal drop in EBITDA loss, as per a release.
Excluding all acquisitions, the core business of Think & Learn, BYJU'S, has reported substantial growth, with total income surging to Rs. 3,569 crore from Rs.1,552 crore in the previous year, marking a robust 2.3x increase.
Additionally, the EBITDA loss for the core business decreased from Rs. 2,406 crore to Rs. 2,253 crore year-on-year (YoY), coupled with an improved margin from -155 percent to -63 percent from FY21 to FY22.
Founder and group CEO, Byju Raveendran, reflecting on a challenging year that included nine acquisitions, noted the invaluable lessons learned.
Earlier on October 16, sources had reported that the unicorn would report its financial results for the year during the same week. But that did not happen.
With other firms done with the announcement of their FY23 results in April this year, Byju's inordinate slowness in finalising accounts made shareholders highly impatient, the report noted. The company is also dealing with a cash crunch and has missed payment on a $1.2 billion term loan.
The immense delay in announcing financial results also attracted scrutiny from regulators and led to the resignation of Deloitte Haskins & Sells as the company's auditor earlier this year, sources said.
